As a result, our entire business, sales, and training landscape is changing right before our eyes. With virtual training, VR can allow access to environments that are difficult or too dangerous to simulate any other way. In addition, VR can simulate training for employees from retail applications to bartending.

As virtual and augmented reality become more commonplace, organizations like ours must evaluate our business strategies to ensure we continue to stay relevant and competitive in the market.

How do we adapt a 100-year-old business to the disruptive new world of virtual and augmented reality? We solicit fresh eyes.

We asked future business leaders: “how should we prepare for the impact of virtual and augmented reality?”

To help us understand the impact of virtual and augmented reality on our business, we reached out to some of the country’s top MBA candidates through the DeGroote MBA Case Competition.

As the sponsor of the Social Media Video Challenge, we had a unique opportunity to collect bite-sized insights from some of tomorrow’s brightest business leaders.

“A big aspect of the MBA is thinking on your feet. The purpose here at least at the DeGroote MBA Case Competition is to get people engaged and understanding what innovation and digital technology is actually happening because it’s changing the world…Five years down the road there’s going to be entirely new jobs, so we need to adapt to the constant innovation and changing technology.” – Ryan Downie, Co-chair, DeGroote MBA Case Competition

As part of the challenge, the students were required to research and answer our business challenge through a short, sharable video. The questions we posed covered a broad spectrum of business impact, including:

How can we leverage virtual and augmented reality to scale the expertise of our skilled field workforce?

What industries are prime targets for virtual and augmented reality integration?

How can we maintain our competitive advantage, while virtual and augmented reality democratises access to customers for our competitors?

We received a number of insights, but the top video came from The Best Case Scenario. You can check out their recommendation here: